Crypto Daily – The German government is continuing to sell its large position near the market bottom, while it is continuing to be absorbed by buyers. Is this a similar play to when UK chancellor Gordon Brown sold a huge chunk of his country’s gold at the bottom of the market?
The current selling of what could be the entire $BTC holdings of the German government at the bottom of the market could be held up in years to come as one of the worst financial decisions by a sovereign country since the UK started to sell more than half of its gold reserves at the bottom of a 20 year bear market between 1999 to 2002.
Gordon Brown’s awful blunder
Gordon Brown’s decision 25 years ago is still talked over incredulously by analysts since that time. What made matters worse is that Brown told the market exactly when he would begin to sell the gold, and the manipulators and speculators just positioned themselves and made the absolute most of the opportunities when they…
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